Rabobank Agrees to Pay $368MM+ in Anti-Money Laundering Case

The following appears on monitordaily.com

According to a report from the Office of the Comptroller of the Currency (OCC), Rabobank, a Roseville, CA subsidiary of the Netherlands-based Cooperative Rabobank, pleaded guilty to a felony conspiracy charge for impairing, impeding and obstructing its primary regulator, the OCC, by concealing deficiencies in its anti-money laundering (AML) program and for obstructing the OCC’s examination of Rabobank.

According to the report, Rabobank will forfeit $368.7 million as a result of allowing illicit funds to be processed through the bank without adequate Bank Secrecy Act (BSA) or AML review.


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